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417 W Queen Lane

PHILADELPHIA, PA 19144
  • $625,000
  • STATUS: Active
  • ON SITE: 30 Days
  • ID#: PAPH2357994
UPDATED: 118 min ago
$625,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,565
    SQFT
  • $137
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1900
County:

School Ratings & Info

Description

Prime investment opportunity at 417 W Queen Lane! This recently renovated property features seven individual units and sits on a massive 25x230 lot lot, generating approximately $68,000 annually with $12,000 in operating expenses, yielding a stabilized 8.75% cap rate with an opportunity to expand the current building. The property boasts long-term tenants, electric heating and cooling in each unit, and a shared coin laundry in the basement. With landlord-covered electric and water, there's significant potential for value-add and rent increases. Ideal for investors looking to capitalize on a well-maintained, income-generating asset. Located centrally to all Philadelphia has to offer with several train and bus stops within a quick walk and also a short distance to the renowned Wissahickon Park System. Can be sold with 415, 419 & 419r W Queen lane as a Shovel Ready 9 Unit SFH Development Project with permits, drawings, renderings and financials are available upon request!

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Broc Schmelyun Team | RE/MAX. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-06-23T11:51:32.817.
www.soldbybroc.com/homes/150873026
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417 W Queen Lane PHILADELPHIA, PA 19144

  • Price: $625,000
  • Status: Active
  • On Site: 30 Days
  • Updated: 118 min ago
  • ID#: PAPH2357994
0
Beds
0
Baths
0
½ Baths
0.13
Acres
4,565
SQFT
$137
$/SQFT
1900
Built
Neighborhood:
Germantown (West)
County:
Philadelphia
Area:
19144 (19144)
School District:
The School District Of Philadelphia
Property Description
Prime investment opportunity at 417 W Queen Lane! This recently renovated property features seven individual units and sits on a massive 25x230 lot lot, generating approximately $68,000 annually with $12,000 in operating expenses, yielding a stabilized 8.75% cap rate with an opportunity to expand the current building. The property boasts long-term tenants, electric heating and cooling in each unit, and a shared coin laundry in the basement. With landlord-covered electric and water, there's significant potential for value-add and rent increases. Ideal for investors looking to capitalize on a well-maintained, income-generating asset. Located centrally to all Philadelphia has to offer with several train and bus stops within a quick walk and also a short distance to the renowned Wissahickon Park System. Can be sold with 415, 419 & 419r W Queen lane as a Shovel Ready 9 Unit SFH Development Project with permits, drawings, renderings and financials are available upon request!
Exterior Features

Architectural Style Other Construction Materials Masonry Garage YN No Parking Types On Street Pool No Pool Water Access YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 4565 Basement Unfinished Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Window Unit(s) Exclusions Tenant's Property Fireplace YN No Heating Other Heating YN Yes Rooms Total 7 Single Room Units 7 Three Bedroom Units 0 Two Bedroom Units 0

Property Features

Acceptable Financing CashConventionalFHA 203(k) Accessibility Features None Central Air YN No Cooling Fuel Electric Cross Street McKean Ave Foundation Details Concrete Perimeter Heating Fuel Electric Hot Water Electric Municipality PHILADELPHIA Navigable Water YN N New Construction YN No Number Of Units Total 4 Original MLSNumber 803090498492 Ownership Interest Fee Simple Property Sub Type Other Sale Type Standard Sewer Public Sewer Structure Design Type Detached Tax Annual Amount 4497.00 Tax Lot 3 Vacation Rental YN No Water Source Public Zoning RSA5

Listing courtesy of KW Main Line - Narberth: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Broc Schmelyun Team | RE/MAX. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-06-23T11:51:32.817.
 
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The Broc Schmelyun Team | RE/MAX
1147 Eichelberger Street
Hanover PA, 17331